Bank of America CD Rates

Investors with extra cash on hand are always looking for more alternative ways to invest. CDs are a popular alternative way to invest in, even for smaller investors. Most CDs require a minimum investment of $1,000. There are many different levels of CDs that investors can take advantage of. Bank of America CDs provides a wide range of plans that are developed to meet the many needs of their customers. Interest rates can be earned anywhere from .90% to 3.00% depending on the amount and length of investment. Bank of America CDs typically range anywhere from 9 months to 5 years.

CD rates can change over time and are commonly driven by the market price. CDs are usually seen on the market as 1-year treasuries, 5-year treasuries, 10-year treasuries, etc. Higher paying CDs are usually found in CDs that are offered nationally. Smaller interest paying Bank of America CDs can be invested in as well. They are typically found in 3 month, 6 month, 9 month, 12 month and 24 month terms. Interest rates with shorter term CDs will pay out lower sums. There are two main types of CDs with Bank of America made available in both short term and long term CDs.

A standard opt-up CD account is one of the two main types of CDs with Bank of America. If a customer opens a standard opt-up CD for a 30 month period, they must deposit anywhere from $10,000 to $250,000. The level of competition that Bank of America pushes on the market makes these accounts appealing, for both long term and short term investors. The other main type of CDs is called flexible opt-up CD accounts. With these accounts, the investor is given the option to increase their rates once every six months. If the markets produce higher interest rates the investor can adjust their account every six months to accommodate those changes.

Currently the markets are starting to show signs of rising interest rates. Smart investors will dump their money into CDs to take advantage of the interest payments. If the interest rates fall the investor is not obligated to adjust their flexible opt-up accounts to meet the new interest rates. It’s in the best interest however, for the investor to make necessary adjustments every six months that benefits them. Bank of America makes it easy to open up a new CD account. Accounts can be opened online at their website. They provide custom CD accounts that meet the goals of a wide variety of investors. Accounts like featured risk free and opt-up accounts are all available online. There is plenty of information on what these accounts are all about as well. A featured CD account requires a minimum of $10,000 to open. They are FDIC insured and currently are paying .60% interest on all balances. Risk free CD accounts require a minimum deposit of $5,000 to open. The investor is also given the option to access their funds before the maturity date without being penalized.

The standard opt-up CD account requires a balance of $10,000 to $500,000 in order to open up an account. This is for an 18 month long period of investment. Interest rates that are paid on the standard opt-up CD start at .75% interest. All Bank of America accounts are FDIC approved and provide online service and phone operators. All CD accounts allow access to more than 30,000 ATM machines around the world. Moving your money to accounts that pay you interest is a smart investment that anyone with extra cash can be a part of.

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